may someone help solve this step by step please thank you in advance

On January 1, 2022, XYZ corporation, a new travel products retail company, was formed by the issuance of 30,000 shares of $1 par value stock for $100,000. The new corporation, XYZ, has the following transactions during January. 1.Pays $12,000 in advance for 12 months' rent of office, showroom, and storage space. 2.Purchases of 200 20 inch carryon pieces of luggage at a cost of $70 each, 100 24 inch pieces of luggage at a cost of $80 each, 70 28 inch pieces of luggage at a cost of $90 each, 50 laptop backpacks at a cost of $30 each and 60 under-seat storage pieces of luggage at a cost of $50 each. As of January 31, the company owes $12,000 to their vendor on this purchase. 3. Wages of $8,000 are earned and paid for in January, $2,000 of wages are payable at January 31. 4.Sells 90 20 inch carryon at $130 each, 65 24 inch for $160 each, 40 28 inch at $200 each 30 backpacks @ $55 each and 30 under-seat storage @ $100; $30,000 is received in cash in January, and $4,750 is sold on a deferred payment basis. 5.Other operating expenses of $5,000 are incurred during January; $1,000 of incurred expenses are payable at January 31. Instructions (a) Using the transaction data above, prepare (1) a cash-basis income statement and (2) an accrual-basis income statement for the month of January. (b) Using the transaction data above, prepare (1) a cash-basis balance sheet and (2) an accrual- basis balance sheet as of January 31, 2022. AB